Shelter is the most important human need after food but ironically is not easily available to the low and middle class in Nigeria. However the housing sector according to expert could be a prime driver of socio-economic development in terms of employment creation if its potentials are fully harnessed.

Nigeria has a huge market for the housing sector. It has been estimated that 17million housing deficit exist in Nigeria. The huge deficit exist because of challenges plaguing the sector such as high cost of buying land and houses; the low and no-income earners are the highest hit by this factor, poor mortgage system, non availability of lands, double taxation, difficulty in getting titles, cost of cement, lack of trained artisans, to mention a few.

Some developers over the years have constantly cried over the non availability of land and lack of fund to carry out a desired project. Most times getting mortgages is cumbersome so some resort to personal funding which may not be much. Other means fund were raised where through Joint Venture Partnership (JVP). Joint venture partnership is collaboration between real estate firms and land owners. In the process the land is given to the developer by the JVP as their equity contribution to mass housing development. As such the cost is pushed to the end user making it difficult for the low and no-income earner to own a house. Others that sont operate the joint venture partnership are left with no option than to buy land at very high rate making the end cost very unrealistic for the average Nigerian.

However with all the challenges experienced in the housing sector, the minister of lands, housing and urban development Mrs. Akon Eyakenyi has assured that the present administration concern is to make sure that every Nigerian own a house. In order to make things done more smoothly and the desired result achieved, she recently inaugurated three committees namely the ministerial committee on presidential initiative on the delivery of 10,000 housing units under the Nigeria Mortgage Refinancing Company (NMRC) housing finance scheme, ministerial committee on verification and audition of federal government lands and landed property in the 36 states and the FCT, and ministerial committee on National Housing Survey.

Stressing the importance of the different committee she said the National Housing Survey committee will help reassessing the 17million housing deficit that has been previously estimated. She explained that the NHS committee will first look into the houses that have been constructed during the present administration. Then for the 36 states of the federation, it will need going out into all the states and take into consideration houses built by government, by individuals, private developers to give us a larger picture of the total housing that we have. Than we can compare the total population of Nigeria and what the number of the houses that we have to be able to draw a decision on the deficit. Today we still hold on to the 17million deficit, it could be more or less. That’s why I need that verification, she said.

On the role the Nigeria Mortgage Refinancing Company (NMRC) has it reducing the huge housing deficit, she said the sole reason it was created is to provide finance for housing.

“In the past you have developers coming to finance houses and when for example the civil servants who are supposed to be the off takers may not have the full money to buy off the full house or may not have the 10 per cent required to pay down. For any mortgage an individual is suppose to pay 10 per cent down before the mortgage institution will spread the remaining one over a period of time. What the NMRC will do in this situation will ensure that the PMI are funded to ensure that anytime the developer come up, the off taker will have where to live on easily to be able to take the house and the money can be easily revolved to take place,” she explained.

Ekakenyi further disclosed that while the financing is being controlled by the minister of finance, the ministry of housing will provide land for the structures as even if the money is readily available if there is no land, there is no housing for all can be achieved.

To further ensure that the specific needs of Nigerians are met a website was created for Nigerians to specify the type of houses they want be it a one bedroom or three bedroom apartment. She said houses will always be built based on interest. While adding that the NMRC will official launch take off in August. “In august we are going to launch the ground breaking ceremony of the NMRC. Because of the technicalities involved we think maximum 6 months we will be able to tell Nigerians this is what we can show. It will be done in phases. In the next 6 months we will ensure that houses will start springing up for Nigerians.”

However Nigerians through union associations have argued that fund from the NMRC should not be placed in the hands of private developers who are profit driven if affordable housing is to be achieved but instead should be given to the Federal Housing Authority (FHA) which has the mandate of delivering housing to Nigerians.